India Added Record-Breaking 10-Gigawatt Solar Energy Capacity In 2021

Highlights

According to the firm's most recent projection, India will have 3.2GW of solar capacity installed by 2020. By the end of December 2021, the total installed solar capacity would be around 49GW.

Solar accounted for 62 percent of year-on-year growth, according to the research. Rooftop installations increased by 138 percent year on year in 2021.

Rajasthan had the highest rate of capacity addition in 2021, at 4.5 percent.


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In 2021, India will have deployed a record 10 gigawatts of solar capacity, a 212 percent increase year on year. According to the research firm's most recent study, the country installed 3.2 GW of solar capacity in 2020.

According to the firm's most recent projection, India will have 3.2GW of solar capacity installed by 2020. By the end of December 2021, the total installed solar capacity would be around 49GW.


Solar accounted for 62 percent of year-on-year growth, according to the research. Rooftop installations increased by 138 percent year on year in 2021.


When divided by territory, Rajasthan, Karnataka, and Andhra Pradesh were the top three states for large scale solar capacity, accounting for half of all installations in the country. Rajasthan had the highest rate of capacity addition in 2021, at 4.5 percent.


The demand picture for 2022 appears to be robust, but there will be various hurdles along the road, including basic customs duty, import limitations, GST (goods and services tax), as well as larger global supply chain issues, higher than typical component pricing, and so on.

According to the analysis, the average project cost in 2021 will be higher due to rising module, raw material, and freight expenses.

"Solar tenders declined 4.3% year on year in 2021, while auctions fell 2.6% compared to 2020. Some of the causes for the slowness in tender and auction activities were the delay in signing power-sale agreements (PSA) and a lack of clarity regarding relevant duties "According to the research.


According to the research, solar bids fell 4.3 percent year on year, while auctions fell 2.6 percent compared to 2020. According to the research, the slowdown was caused by delays in the signing of power-sale agreements as well as a lack of clarity in applicable tariffs.

 

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